New York Times Plans Cutbacks in Newsroom Staff
New York Times – 56 minutes ago
The paper, saying it needed to reduce costs to safeguard profitability, said it would cut about 100 news jobs and a smaller number in other operations.
@TheStalwart: NYT cutting 100 newsroom jobs, and shutting down NYT Opinion mobile app [link]
@AntDeRosa: New York Times slashing 100 jobs, 7.5% of newsroom. Shutting down @nytopinion app, @NYTNow has "not proved...popular" [link]
@JohnCassidy: NYT cooking vertical going gangbusters; political comment app--not so good. Columbia J School, please note. [link]
@finansakrobat: RT @TheStalwart: NYT cutting 100 newsroom jobs, and shutting down NYT Opinion mobile app [link]
@TonyTassell: RT @GuyChazan: New York Times to cut 100 newsroom staff [link]
@morningmoneyben: RT @GlennThrush: Ugh MT @jeremyzilar: New York Times plans to eliminate about 100 newsroom jobs [link]””
@mccarthyryanj: RT @TheStalwart: NYT cutting 100 newsroom jobs, and shutting down NYT Opinion mobile app [link]
@felixsalmon: Oof, I hope Paul @smalera lands on his feet, if he’s losing his job [link]
@AmyResnick: NYTimes plans to eliminate about 100 newsroom jobs, & smaller number from editorial & biz operations [link] #journalism
@hblodget: RT @TheStalwart: NYT cutting 100 newsroom jobs, and shutting down NYT Opinion mobile app [link]
@TimOBrien: And is shuttering NYT Opinion “@jeremyzilar: New York Times plans to eliminate about 100 newsroom jobs [link]”
$617 Billion in Japan Stock Orders Scrapped After Error
Bloomberg – 6 hours ago
Japan’s over-the-counter market was bombarded with $617 billion of erroneous stock orders in dozens of Asia’s biggest corporations. They were canceled before they could be executed.
@ChrisAdamsMKTS: RT @davidmwessel: Oops! $617 Billion in Japan Stock Orders Scrapped After Fat Finger Error [link]
Here Is The City: The biggest ‘fat finger’ trade ever
@JohnLothian: $617 Billion in Japan Stock Orders Scrapped After Error [link]
@TonyTassell: ICYMI - @bloomberg rpts epic fat finger error in Tokyo: $617bn of orders cancelled.Someone tried to buy 1/2 of Toyota [link]
@jmackin2: RT @davidmwessel: Oops! $617 Billion in Japan Stock Orders Scrapped After Fat Finger Error [link]
@davidmwessel: Oops! $617 Billion in Japan Stock Orders Scrapped After Fat Finger Error [link]
@ThemisSal: RT @sabrush: $617 Billion in Japan Stock Orders Scrapped After Error bigger than Sweden’s economy [link]
Fed Scrutiny of Leveraged Loans Grows Along With Bubble Concern
Bloomberg – 3 hours ago
The Federal Reserve is stepping up its oversight of high-risk leveraged loans, shifting to a deal- by-deal review after its previous industry-wide guidelines were largely ignored by banks.
The A.I.G. Trial Is A Comedy - The New Yorker
New Yorker – 14 hours ago
Maurice (Hank) Greenberg and his highly paid legal team are finally getting their day in court.
@eisingerj: RT @JohnCassidy: The A.I.G. trial is an absurdist comedy [link]
@MattGoldstein26: RT @moorehn: Total farce in fact. RT @JohnCassidy: The A.I.G. trial is an absurdist comedy [link]
@maxabelson: Mel Brooks should write a courtroom comedy with @JohnCassidy called Dogged Old Coot Financier [link]
@JohnCassidy: RT @moorehn: Total farce in fact. RT @JohnCassidy: The A.I.G. trial is an absurdist comedy [link]
@morningmoneyben: Good @JohnCassidy on Hank Greenberg’s ridiculous charade lawsuit over the AIG bailout. [link]
@EpicureanDeal: David Boies should use my imagined speech ([link]) to AIG’s counterparties in Hank Greenberg’s trial: [link]
@TimOBrien: The A.I.G. trial is a comedy, via @JohnCassidy [link]
@moorehn: Total farce in fact. RT @JohnCassidy: The A.I.G. trial is an absurdist comedy [link]
The Pimco Perplex
New York Times – 20 hours ago
Understanding Bill Gross’s terrible 2011.
@TheStalwart: Krugman blows up Bill Gross. [link]
@cullenroche: Krugtron is stealing my thunder on the PIMCO int rate trade. And in the name of the liquidity trap! GRRRR. [link]
@foxjust: So with Gross gone and McCulley still there, shouldn’t we all be pouring our money *into* Pimco? [link] @NYTimeskrugman
@izakaminska: Krugman on Bill Gross’ liquidity trap denial [link]
reddit/Economics: The Pimco Perplex
@MarkThoma: The Pimco Perplex - Paul Krugman [link]
@interfluidity: “the pvt sector is trying to run a huge surplus, and the public sector isn’t willing to run a corresponding deficit.” [link]
@ObsoleteDogma: What explains the persistence of money-losing liquidity trap denial, for Japan & the U.S.? [link] [link]
@ReformedBroker: Krugman mention, I’m going home for the day. [link]
@wonkmonk_: RT @NYTimeskrugman: The Pimco Perplex [link]
@MattGoldstein26: RT @NYTimeskrugman: The Pimco Perplex [link]
Now Is a Good Time to Invest in Infrastructure
imf.org – 17 hours ago
By Abdul Abiad, Davide Furceri, and Petia Topalova Infrastructure is the backbone of well-functioning economies. Unfortunately, that backbone is becoming increasingly brittle in a number of advance...
David Cameron pledges sweeping tax cuts for low and middle earners
Financial Times – 1 hour ago
David Cameron has promised sweeping tax cuts for low and middle earners if he wins next year’s election, as the prime minister seeks to position the Tories as the best party to improve voters’ living standards. Giving his keynote speech at ...
GE Sign Removed From Top of 30 Rock
nbcnewyork.com – 11 hours ago
The city’s skyline is changing: workers are in the process of removing the GE signs from the top of 30 Rock. Comcast now owns the majority of NBCUniversal, so the signs are being replaced.
’Fat finger’ Tokyo trader makes £381bn shares gaffe
standard.co.uk – 3 hours ago
Share trades worth more than the size of Sweden’s economy had to be cancelled in Tokyo today after what is believed to be the biggest “fat finger” error on record.
Q&A: Brussels takes on Ireland over Apple tax
Financial Times – 3 hours ago
The European Commission has published details from its preliminary investigation into Ireland’s tax arrangements with Apple. It argues Dublin gave sustained state support to Apple that may need to be recouped. What is the commission’s case?...
SEC Charges Two with Insider Trading on Pershing Square’s Announcement on Herbalife
SEC.gov – 20 hours ago
The SEC announces it has brought charges against two individuals for insider trading on Pershing Square’s market-moving announcement in 2012 on Herbalife.
Business Insider: SEC Charges Two Guys With Insider Trading In Herbalife After Finding About Ackman’s Short From A Roommate
@finansakrobat: RT @SEC_News: ICYMI: SEC charges two w/ #insidertrading on Pershing Square’s 2012 announcement on Herbalife: [link]
@footnoted: SEC says two guys bought put options in $HLF days before Pershing’s position became known. [link]
@JacobWolinsky: RT @maureenmfarrell: SEC charges two people w/ insider trading on $HLF -- roommate of former Pershing Square analyst [link]
@Dvolatility: RT @SEC_News: ICYMI: SEC charges two w/ #insidertrading on Pershing Square’s 2012 announcement on Herbalife: [link]
UK and eurozone suffer manufacturing slowdown
theguardian.com – 7 hours ago
Rolling business and financial news, as weak factory data fuels fears over the state of the global economy
Business Insider: Shares In Britain’s Three Biggest Supermarkets Are Getting Demolished
@graemewearden: Factory slowdown not confined to Europe; Brazil’s manufacturing shrank last month. [link] [link]
@YanniKouts: RT @graemewearden Worries over #Germany as factory sector shrinks for first time in 15 months [link] [link]
Adidas Aims to Placate Investors With $1.9 Billion Return
Bloomberg – 4 hours ago
Adidas AG, the world’s second-largest sporting-goods maker, will return as much as 1.5 billion euros ($1.9 billion) to shareholders over three years as it seeks to stave off investor unrest.
Europe’s €500bn money funds risk AAA downgrade if they ’break the buck’
The Telegraph – 18 hours ago
Negative interest rates in Europe are causing havoc for the money market industry, threatening its long-term survival
Business Insider: Europe’s €500 Billion Money Market Nightmare Is Coming True
@izakaminska: European money market funds are under pressure due to neg rates [link] (not sure why they shd still be guaranteeing a buck)
@edwardnh: Europe’s €500bn money funds risk AAA downgrade if they ’break the buck’ [link] by @AmbroseEP
Crackdown on Apple in Ireland Opens Front on Tax Avoidance War
Bloomberg – 4 hours ago
Crackdown on Apple in Ireland Opens Front on Tax Avoidance War
Embracing Role of Provocateur, Lawrence Summers Says Treasury Undermined Fed
New York Times – 15 hours ago
In a paper, Mr. Summers and three co-authors argued that the lack of cooperation had slowed growth and left more Americans jobless.
@howardlindzon: Lawrence summers is accusing the government of being asshats ... Shocking. [link] (Don’t chase returns) $tlt $spy
@ModeledBehavior: RT @BCAppelbaum: Larry Summers: Never boring. [link]
@davidmwessel: NYT’s @BCAppelbaum covers @LHSummers critique of Treasury debt management at our Hutchins event yesterday [link]
@MarkThoma: Lawrence Summers Says Treasury Undermined Fed - [link] [link]
@moorehn: Good troll bro RT @nytimesbusiness: Cross Purposes: Now as Provocateur, Summers Says Treasury Undermined Fed [link]
The ’dos and don’ts’ of a growth-friendly policy mix for the Euro area
bruegel.org – 6 hours ago
1 Speech by Mario Draghi, Annual central bank symposium in Jackson Hole, 22 August 2014 When looking at possible ways out of the e...
One Chart Shows Just How Terrified China Is of Hong Kong Right Now
mic.com – 9 hours ago
China can barely keep up...
Guest post: China’s property is slowing, not crashing
Financial Times – 4 hours ago
Draghi Takes ECB to Land of Gomorrah as Naples Prays
Bloomberg – 5 hours ago
As Europe’s central bankers gather in Naples to discuss the state of the region’s economy, the city stands as a stark warning of just how bad things can get.
Why inequality is such a drag on economies
Financial Times – 23 hours ago
W hen should growing inequality concern us? This is a moral and political question. It is also an economic one. It is increasingly recognised that, beyond a certain point, inequality will be a source of significant economic ills. The US – b...
@ObsoleteDogma: Martin Wolf is depressing [link] [link]
@MarkThoma: Why inequality is such a drag on economies - Martin Wolf [link]
@FGoria: RT @Daniele_Manca: Why inequality is such a drag on economies - [link] [link] via @FT
reddit/Economics: Martin Wolf: Why inequality is such a drag on economies